Hahaha. Because people never borrow more money to buy things they can't afford when it becomes cheaper to borrow, do they?
Don't kid yourself. By all measures, inflation is still rising and the BoE can't afford to give consumers more borrowing power without looking like it has lost the plot.
Holidays in Florida will remain very cheap for British holidaymakers for a couple of years to come.
I'm feeling a bit bearish at the moment, but basically I think everyone on the east side of the Atlantic can safely forget exporting the USA for the next half a decade. There is too much of a discrepancy between what Americans can afford to pay and what things cost over here in our own currencies (Sterling, Euro, Kroner & Franc).
By all means import from the USA but sell to Russia and the Persian Gulf states and perhaps to the new middle classes in India and China.
I'm waiting for Baidu to come out with a competitor to AdSense and then for the Yuan to be revalued. If Baidu has its relevancy algorithms up to scratch and finds ways to expand its advertiser base it might give Google some real competition >;->
And to our stetson-wearing friends: good luck with your economy, chaps.